By: Simon Hunt

City Editor Simon Hunt is City editor at City AM, covering the economy and financial markets. He was previously business correspondent for the Evening Standard and a reporter for Bloomberg News.

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‘Governance horror-show’: AVI hits out at takeover plan from Dan Loeb-backed Third Point

May 21, 2025

A major shareholder of a London-listed business backed by New York hedge fund manager Dan Loeb has hit out at its planned takeover of a US insurer. AVI, which controls a 7.1 per cent share of Third Point Investors, described its takeover proposal as a “governance horror-show”. “Third Point Investors has for some time been [...]
SSE cuts investment and warns it won’t meet 2030 net zero goal

May 21, 2025

SSE, one of the UK’s biggest energy companies has said it is unlikely to meet its 2030 renewable goal in the latest blow to the government’s net zero plans. SSE said it decided to cut capital investment by as much as £3bn over the next five years, citing macroeconomic uncertainty and planning obstacles. The Perth-based [...]
Pisces has the potential to flourish – if the FCA plays its cards right

May 21, 2025

New Pisces markets could begin trading before the end of this year, in what the government hopes will be a boost for fast-growing companies in search of a stepping stone before reaching IPO. The framework, known as the Private Intermittent Securities and Capital Exchange System, will allow the creation of a new type of private [...]
OBR ridiculed for ‘joke of a salary’ in analyst job offer

May 20, 2025

The UK’s fiscal watchdog has been ridiculed for offering a “joke of a salary” after advertising for new roles. The Office for Budget Responsibility is hiring for three new “fiscal analysts” based in London with a salary range of just £38,430-52,000, despite the jobs being graded a “higher executive officer” function within the organisation. The [...]
Vodafone swings to loss after €4.5bn impairment blow

May 20, 2025

Vodafone has swung to a loss after recording a €4.5bn (£3.8bn) impairment hit amid the continued poor performance of its German business. The telecoms giant posted a pre-tax loss of €1.4bn for the year to end March, compared to a profit of €1.6bn the previous year. Vodafone said the impairment charges “reflect management’s latest assessment [...]
Thousands of university spinouts at risk over poor levels of support, experts warn

May 19, 2025

The UK could be missing out on thousands of cutting-edge spinout companies amid a dearth in funding and a shortage in support for founders, experts have warned. In October, the government committed as much as £40m to support spinouts over a five-year period in a bid to bridge the so-called “valley of death” between academic [...]
Guinness maker Diageo to offset US tariffs with cost cuts

May 19, 2025

London’s biggest drinks business, Diageo, has unveiled a $500m (£375m) cost-cutting programme as it struggles with the impact of US tariffs. Guinness and Johnnie Walker maker Diageo said it would make the cost savings over the course of three years, but did not confirm how many jobs would be impacted by the move. The firm [...]
Umbrella Union to be wound up after HMRC tax avoidance accusation

May 16, 2025

A Liverpool-based contracting company accused of promoting tax avoidance is to be wound up after appointing liquidators, City AM can reveal. The firm, called, Umbrella Union, described itself as an “umbrella contracting company” which “can help you comply with financial regulations whilst remaining self employed.” In October last year, HMRC added the company to its [...]
Pisces regulations have arrived. Here’s what you need to know

May 16, 2025

It’s the moment you’ve been waiting for. This week saw the publication of new regulations governing the Private Intermittent Securities and Capital Exchange System – or Pisces, to you and me. The regulations were laid before Parliament on Thursday as a Statutory Instrument, meaning they were waved through without debate, and will come into force [...]
Don’t force pension funds to buy British, Aviva chief warns ministers

May 15, 2025

British pension funds should not be forced to invest in UK assets, the boss of one of London’s biggest insurance firms has said, in a rebuke of the government’s pension reforms plans. The Treasury this week helped seal a voluntary, non-binding agreement by pension funds, dubbed the Mansion House Accord, will see increased investment into [...]

Burnham would ‘probably’ have won by-election, says Powell

UK Sport: We invest £32m in winter sports because Britain cares deeply

Ministry of Sound: ‘industry is on the up’ as it reveals brand new take on The Box

By: Simon Hunt

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